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Discuss importance of reporting the events

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Question - The objective of IAS 10, Events after the Reporting Period, is to prescribe when an entity should adjust its financial statements for events after the reporting period, and what disclosures the entity should make about the events after the reporting period. With reference to IAS 10, Events after the Reporting Period, discuss;

(a) The importance of reporting the events occurring after the end of the reporting period,

(b) The reporting period covered by IAS 10,

(c) The identification and accounting treatments of adjusting and non-adjusting events. You should provide several (at least three) relevant examples of each type of event,

(d) The challenges in identifying these events

Reference no: EM133185941

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